Spanish agri-food exports reached €66.9 billion in 2022, a considerable increase of 13.2% over the previous year. High inflation, which led to a 15.7% increase in food costs, was the primary driver of this increase in value. According to a recent Cajamar report, the volume of agri-food exports declined by 6%, with fruit and vegetable exports seeing a decline of 11.5%.
The agri-food trade balance recorded a surplus of nearly €13 billion despite the decline in volume, making it a vital industry for the nation. When compared to the other members of the European Union, France (+13.2%) and Germany (+16.8%) outpaced Spain’s rise in agri-food exports.
Spain’s export destination markets also underwent some adjustments; for example, exports to China decreased by 29% from the previous year, partly as a result of the country’s domestic herd recovering from the swine disease outbreak, which led to a decline in pork sales. However, exports from France climbed by €1.1 billion (+12%), Italy by €930 million (+16%), and Portugal by €763 million (+24%). Additionally, with gains of €661m (+27%), €310m (+30%), and €244m (+54%), respectively, Spanish exports to the US, Japan, and the Philippines also experienced strong growth.
Overall, Spain’s agri-food industry continues to play a significant role in the nation’s economy despite challenges brought on by inflation and shifting export destinations.
Source: www.eurofresh-distribution.com, Photo : https://www.pexels.com/photo/assorted-vegetable-store-displays-2252584/
11 May 2023
